Republikeynesians, especially, have been demanding that in his first address to a joint session of Congress, Obama “talk up” the economy. “What Obama Should Do,” blared the typical headline in the neoconservative National Review. And the answers: “Be positive, if prudent,” instructed Bill O’Reilly. “Restore economic confidence,” advised Conrad Black, a conservative who also believes that Franklin Delano Roosevelt was the champion of freedom. (Black, who, incongruously, combines a call for serious central planning with a condemnation of it, has, seemingly, learned nothing from falling prey to the same predators.)
This tired battle cry just goes to show the depths of this lot’s economic “thinking.”
Most Republicans have taken up economist John Maynard Keynes’ kooky concept of “animal spirits.” This was Keynes’ condescending reference to consumer confidence. Keynes believed that the fickle consumer’s biorhythms controlled the economy (I kid you not). Which explains why confused Republicans, like Democrats, keep kibitzing about “a crisis in consumer confidence.”
The implication being that “confidence” will galvanize the jobless and the penniless to spend.
I sincerely hope not.
By the way, the Voodoo Child has obliged. This is the first line in Obama’s pie-in-the-sky speech:
“[T]onight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before.”
